The extension will be effective from January 2010. The duties, of 16.5% on leather footwear from China and 10% from Vietnam, were originally imposed in 2006 with a promise that they would last just two years. However this is the second time the European Commission has extended the terms beyond that initial period. The European Footwear Alliance, which represents footwear companies such as Hush Puppies, Ecco, Gabor and Adidas, said it was “deeply disappointed” in the decision, which it calcula

About 4.3m people are likely to splash out an average of ?27.90 each and Boxing Day is expected to be the busiest day of the year for etailers. Last year consumers spend ?102m online on Christmas Day as retailers such as Marks & Spencer and John Lewis, along with pureplays such as Play.com and M&M Direct, launched their Sales. Last year’s online shopping trends are expected to be replicated, industry body IMRG said, bringing anticipated online sales growth in December of 14%, total

Billabong International Ltd says it has entered into a conditional agreement to acquire an interest in online board sports retailer, Surfstitch. The agreement will allow Billabong acquire a minority equity interest in Surfstitch, with options to acquire 100 per cent of the business. Billabong said the purchase price was not material and was subject to a confidentiality agreement. Source: WA Today

High Street stores and online retailers are bringing forward their Boxing Day sales in a final 'big push' to improve Christmas trade. Clothing retailer Gap has already launched 50 per cent price cuts along with the likes of French Connection, Hobbs and some other fashion stores. And retailers such as John Lewis, Comet, B&Q and Halfords have announced that sales will begin at their internet outlets on Christmas Eve. Such is the rise of the internet that 4.3million Britons are expe

MEXICO CITY (Reuters) - Mexican stores are packed with shoppers this Christmas, but slashed prices and big promotions mean cash registers are ringing up meager sales, underscoring a fragile recovery from a punishing recession. From Wal-Mart de Mexico, the country's biggest retailer, to informal street vendors, retailers are cutting prices to lure customers -- some hoping to increase market share and others just struggling to stay in business. "The stores may be clogged but what are people

Bulgaria's prime minister has announced that Value-Added Tax (VAT), which currently stands at 20%, could be cut to 17% in 2011. Boyko Borisov spoke at the official lunch, organized by the American Chamber of Commerce in Bulgaria, dedicated to the country's plans for accession to the eurozone by 2013 and the efforts that the state is making to achieve this key goal. “Bulgaria's accession to the eurozone will release huge financial resources, which are currently used to guarantee the stabili

BANGKOK (TNA) – Thai exports in November grew 17.21 per cent for the first time this year with an export value of US$13.8 billion, Commerce Minister Porntiva Nakasai said on Monday. Increased exports of agricultural and agro-industrial products such as cassava, frozen and processed shrimp and sugar rose 28.6 per cent while exports of industrial goods like electronic appliances, jewellery, cosmetics turned positive to grow 13.2 per cent for the first time this year, Mrs Porntiva said. Expor

Leading market research group GfK announced Tuesday that the mood among German consumers would continue to deteriorate at the end of the year. Researchers put a large part of the blame on rising energy prices. Market researchers at GfK said the mood of consumers in Germany worsened for the third month in a row on Tuesday. A combination of rising energy prices and the fear of future job losses has led many consumers to save their money, the Nuremberg-based group said, and postpone purchase

The newsroom for writers/broadcasters covering the 2010 Beltwide Cotton Conferences will be in the Preservation Hall, Studio 7-8 on the second floor of the New Orleans Marriott Hotel. Hours are: 10-5 p.m. on Jan. 4; from 8 a.m.-5 p.m. on Jan. 5-6 and from 8 a.m. – noon on Jan. 7. The newsroom operation, which is supported by a Monsanto Company grant to The Cotton Foundation, will be equipped with phones, fax machine, copier and computers/printers, including Internet access. Refreshments will be

Following the dwindling demand of man-made fabrics in the domestic market, this segment of textile industry is looking towards a supportive budget for 2010-11. In its pre-budget recommendations to Union textile ministry, the Federation of Indian Art Silk Weaving Industry (FIASWI) has proposed various policy measures for the future of Indian textile industry keeping in mind the statutory and legal framework arising out of India's commitment to World Trade Organisation (WTO). FIASWI chairm